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Problem 1: Locating Information on Published Financial
Statements
1. Does the company have any marketable securities at the end of the year?
yes
1. How many dollars of marketable securities?
$268 million
2. How are they classified? Short-term, long-term,

/60) of the economic life.
2.
The present value of the minimum lease payments amounts to substantially all (greater
than 90%) of the fair value of the leased asset; that is, the present value of $10,515 (see below) amounts
to substantially all (96%) of th

0
IFRS21-8
Interest Payable [($300,000 $53,920) X 12%]
Lease Liability
Cash
29,530
24,390
53,920
IFRS21-9
(a)
To Brecker, the lessee, this lease is a finance lease because the terms satisfy the following
criteria:
1.
The lease term is for the major portio

Cash
33,000
Rent Revenue
33,000
PROBLEM 21-2 (Continued)
(c)
Abriendo as lessee must disclose in the income statement the $33,000 of rent expense and in
the notes the future minimum rental payments required as of January 1 (in total, $132,000) and for eac

Problem 3: Locating Information on Published Financial Statements
Refer to the Lowe's 2012 10-K. You should have located these statements for previous
assessment problems. Use the financial statements and your prior knowledge of accounting,
supplemented b

1.
How much cash and cash equivalents does the company report at
the end of 2011?
-
The company reports having $652 million at the end of 2011
(page35).
2.
What was the change in accounts receivable and how did it affect
net cash provided by operating act

Problem 1: Working Capital, Current Ratio, Quick Assets,
Acid-Test Ratio
1. Compute (a) working capital and (b) the quick ratio (quick assets are $120,000).
Then, answer the following questions?
1. Why is working capital important to management?
Working c

Problem 2: Reading Publically Available Financial Statements
1. The company must use the lower of cost or market method to account for its inventory. At the
end of the fiscal year 2012, do you expect the company to write its inventory down to
replacement

CMA Experience Requirement
CONGRATULATIONS ON COMPLETING THE CMA EXAMINATION!
The final step to receiving the CMA Certiﬁcate is meeting the ICMA experience requirement. This form will be
used by the ICMA to determine if you have met the experience require